The onset of international finance to the Italian debts – and even to the French debt – changed dramatically the background of the crisis: the problems of Greece, Ireland, Spain and Portugal were manageable with the EFSF, the Italian debt certainly is out of range, even with an increased EFSF.

Guido Montani, UEF Vice-President.

The risk of collapse of the eurozone is real, and is approaching if nothing is done. The ECB cannot buy – in breach of the Treaty – Italian bonds for a long time and the present Italian government is not willing and able to implement an effective policy for lowering its huge debt.

In this new political context, the European Parliament can become the centre of gravity of the EU federal reform. The Duff proposal for a “Federal Union Now” is timely and strategically crucial: the Duff’s tract outlines the main institutional reforms – including the majority rule for Treaty ratification – required to carry out the problems listed in the von der Leyden’s and Schröder’s declarations. Moreover, the tract includes a bold proposal concerning the status of Great Britain, which must stop to boycott the European construction.